I was flipping through that briefly in the checkout line at Best Buy yesterday, I didin't have time to really read much else than the headlines and a few quick blurbs though. I really want to see this movie get made, but I feel Jackson absolutely needs to be directly involved. I wasn't ever really a fan of the Spiderman movies, but I found 3 to be especially bad. I'm not really a fan of Sam Raimi having anything to do with this project. Jackson and co. did such an outstanding job on the LOTR trilogy I think handing the reigns over to a guy like Raimi would taint the good name of the franchise. I guess I'm not wholy opposed to a different director, he/she would certainly have to be a proven director, and I think that I'd have the same conditions as Richard in that Jackson would HAVE to be creatively involved, Weta would have the visuals, Walsh would be in on the script, and the two Ian's get cast.

Peter Jackson to produce `The Hobbit' NEW YORK - Peter Jackson and New Line Cinema have reached agreement to make J.R.R. Tolkien's "The Hobbit," a planned prequel to the blockbuster trilogy "The Lord of the Rings."

Jackson, who directed the "Rings" trilogy, will serve as executive producer for "The Hobbit." A director for the prequel films has yet to be named.

Relations between Jackson and New Line had soured after "Rings," despite a collective worldwide box office gross of nearly $3 billion — an enormous success. The two sides nevertheless were able to reconcile, with Metro-Goldwyn-Mayer Studios (MGM) splitting "The Hobbit" 50/50, spokemen for both studios said Tuesday.

"I'm very pleased that we've been able to put our differences behind us, so that we may begin a new chapter with our old friends at New Line," Jackson said in a statement. "We are delighted to continue our journey through Middle Earth."

Two "Hobbit" films are scheduled to be shot simultaneously, similar to how the three "Lord of the Rings" films were made. Production is set to begin in 2009 with a released planned for 2010, with the sequel scheduled for a 2011 release.

New Line Cinema is owned by Time Warner. Sony and Comcast are among the owners of MGM.

Between this and the Zeppelin reunion, it must be getting pretty chilly in Hell this week.

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Two "Hobbit" films are scheduled to be shot simultaneously, similar to how the three "Lord of the Rings" films were made. Production is set to begin in 2009 with a released planned for 2010, with the sequel scheduled for a 2011 release.

So I wonder if they are splitting The Hobbit into a Part One and Two, or is the second going to be the rumored "bridge" film based on the LOTR appendices and other expanded material?